Late this week there was talk in the market of two fairly large packages up for grabs: a $13 billion portfolio of conventional mortgage servicing rights and a $25 billion offering...
While early-payment default rates showed bigger declines, the rate for loans in the most serious delinquency categories remained relatively high. Across all three agencies, 2.92% of loans were four months or more past due, down slightly from the previous month.
Fitch also revealed that Provident received a $20 million equity infusion from an affiliated entity in March. Craig Pica, Provident’s CEO, and members of his family, own a majority stake in the lender.
Wedbush Securities: “While there are many advantages to the SPAC route for both investors and issuers, it has also been an area that has produced disappointing results for some investors in recent months.”
“In many cases, Wells stopped accepting electronic mortgage payments after it placed homeowners into the unwanted forbearance, causing those who were current on their loans to become delinquent without their knowledge and through no fault of their own,” said Kellett & Bartholow.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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